The present invention relates to methods for processing mixed coins to determine the value thereof and, more particularly, to such methods in which mixed coins are segregated.
In recent years there have been developed machines which allow users to insert a large volume of mixed coinage and which process to coins to determine the total value thereof while counterfeits, mutilated coins and foreign coins are rejected and returned to the user. The user receives a printout indicating the total value of the coins which have been accepted, and this slip can be presented to a cashier in the supermarket or other facility where the processing machine is located for redemption in U.S. currency.
The coins which are received in the processing unit are generally stored in mixed condition in a vault within the processing unit. Periodically, the vault is removed and taken to another site for further processing such as an armored car carrier's facility or a bank vault. At that facility, the large volume of coins which have now been collected is sorted and valued in high speed counting and sorting equipment.
It is known that the pennies comprise by far the largest volume of the coins which are passed through such coin processing facilities. It is further known that the processing of mixed coins in high speed counting and sorting equipment produces substantial wear and tear on the equipment, and this is a factor in the service charge which the initial user incurs in his or hers processing of the mixed coinage.
It is an object of the present invention to provide a novel method for processing mixed coinage in which the coins of the denomination constituting the largest volume can be segregated, separately stored and ultimately separately processed at the final processing location.
It is also an object to provide such a coin processing method in which the sorting and counting of the coins at the final processing facility can be performed expeditiously to reduce the cost and time required for processing such coins.
Another object is to provide a novel coin processing apparatus which segregates the coin denomination of largest volume to facilitate further processing.
A further object is to provide such coin processing apparatus which may be simply and economically fabricated and in which the coins are stored in a removable vault which may be readily transported.
A still further object is to provide such coin processing apparatus in which the vault in which the coins are stored enables ready removal of the mixed coins and determination of the segregated denomination is effected by weighing of the vault with that denomination of coins remaining therein.